The bumper first-quarter earnings by the firm formally known as the Saudi Arabian Oil Co., which overtook Apple as the world's most valuable company last week, show a record net income of US$39.5 billion, up from $21.7 billion during the same period last year.
In a statement, Aramco's chief executive attributed the spike in profits to rising prices as well as the kingdom's increase in production, along with allies in the group known as OPEC Plus. He also appeared to suggest that the disruption from the war in Ukraine had underscored the vital role of oil and gas companies like Aramco.
Oil prices rallied to a 14-year high of $139 a barrel in March immediately after Russia's invasion of Ukraine, although later receded as Russian oil continued to flow and renewed lockdowns hurt demand for hydrocarbons in China, a top importer. International benchmark Brent crude traded over $111 a barrel Sunday.
The oil group said it maintained its $18.8 billion cash dividend for the fourth quarter of last year -- completing one of the biggest full-year cash dividends in the world. The payment is a crucial source of revenue for the Saudi government.
Feel like I’m being sanctioned
No fucking shit Sherlock!
Of course they surge them and Russia have paid billions to ensure liberals and “environmentalists” have stomped Canadian oil and any of their closes competition out of being a threat
Guest who is paying for that 80 percent profit. Increase output of oil to bring the price down, so that Russia cannot supply any to his followers like India, china, North Korea
Of caurse they did but keep blaming everyone but the greedy oil corp ceos
Where are Canadian oil sales?
All this while they are committing genocide in Yemen !!! Of course our record breaking gas prices have nothing to do with 'oil giant' profits..!?!
My responsible 4 cylinder family sedan cost $126 to fill up yesterday while these guys add to their enormous wealth. It’s time fighting back but it’s hard when our neighbours to the south have somehow equated oil consumption as patriotic.
all crooks and criminals
Forced arrest, solitary confinement, etc Because I respected and followed the law (WSJ Jan 15, 2022) & mentioned the solution there, a bloody tragedy is getting worse day by day until now, we beg you to help & save us This is your human duty
All a scam. Until we’re ready to uprise and over throw the government nothing will change
Here is our media , paid for by the liberals talking about gas company profits 😂
😂😂😂
Let’s raise taxes here in Canada again, that will teach them.
Im so glad to be struggling here in canada while a saudi oil giant woke up 80% happier
I wonder if our Saudi transport minister played a part in that?
Day one in fuck’n office BidenIsALaughingstock TrudeauworstPMever ForwardForEveryone wef Green ESG Inflation Dieselcrisis Plant22 ctvqp LetsGoOilers Let’s GoOilersGo Oil
Now that Rockefeller influence is not involved. It’s blue skies for Saudi Arabia. Unless they suffers colour revolution like Ukraine Syria Iraq Libya or many other countries do. If. They go against liberal world order
No shit!
Could it be the correlation between Oil, Conflict, and American Interests? 🤔
Imagine that!
Shocking.